Canada Approves First Spot XRP ETF by Purpose Investments

Purpose Investments is set to launch the first-ever spot XRP exchange-traded fund (ETF) in Canada after receiving final regulatory approval from the Ontario Securities Commission (OSC). The Purpose XRP ETF, trading under the ticker XRPP, will debut on the Toronto Stock Exchange on Wednesday, June 18.

This launch offers investors regulated exposure to XRP—currently the fourth-largest cryptocurrency by market capitalization—via traditional investment platforms. The announcement sparked a strong market reaction, with XRP rising nearly 7% in the last 24 hours, outperforming both Bitcoin and the CoinDesk 20 Index.

According to Purpose Investments, the OSC’s greenlight underscores Canada’s leadership in advancing a secure, regulated digital asset ecosystem. Vlad Tasevski, Chief Innovation Officer at Purpose, emphasized that the approval highlights Canada’s proactive stance on crypto ETF innovation.

Purpose Investments made headlines in 2021 when it introduced the world’s first spot Bitcoin ETF, also in Canada, setting a precedent for regulated crypto investment products years before similar offerings were approved in the U.S.

The XRPP ETF aims to simplify access to XRP for institutional and retail investors, reducing the barriers typically associated with direct crypto ownership, such as self-custody and regulatory risk. As crypto ETFs gain traction globally, this milestone marks another step toward integrating digital assets into mainstream finance.

With growing institutional interest and evolving global regulations, Canada continues to position itself as a hub for crypto-based financial innovation. The XRP ETF launch could pave the way for additional spot crypto ETFs and bolster investor confidence in the long-term viability of digital assets like XRP.